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PUBLISHER: Grand View Research | PRODUCT CODE: 1554114
PUBLISHER: Grand View Research | PRODUCT CODE: 1554114
Electrolyzer Market Size, Share & Trends Analysis Report By Technology (Alkaline Electrolyzer, Proton Exchange Membrane, Solid Oxide Electrolyzer, Anion Exchange Membrane), By Application, By Region, And Segment Forecasts, 2024 - 2030
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Electrolyzer Market Size & Trends:
The global electrolyzer market size was valued at USD 489.12 million in 2023 and is expected to grow at a CAGR of 95.2% from 2024 to 2030. The market is driven primarily by the increasing demand for clean energy solutions and the global push toward decarbonization. As countries and industries strive to reduce their carbon footprint and meet ambitious climate targets, hydrogen produced through electrolysis is emerging as a versatile and environment-friendly energy carrier. This growing interest in green hydrogen is a major factor propelling the electrolyzer industry.
Government policies and incentives are playing a crucial role in market expansion. For instance, the European Union's hydrogen strategy aims to install at least 6 GW of renewable hydrogen electrolyzers by 2024 and 40 GW by 2030. Similarly, countries such as Japan, South Korea, and Australia have implemented national hydrogen strategies that include substantial investments in electrolyzer technology. These supportive policies create a favorable environment for market growth and technological advancements in the market.
Moreover, the falling costs of renewable energy, particularly solar and wind power, are also contributing to the electrolyzer market's growth. As the price of electricity from these sources continues to decrease, the production of green hydrogen becomes more economically viable. This trend is encouraging industries such as steel manufacturing, chemical production, and transportation to explore hydrogen as an alternative to fossil fuels. For example, companies such as ThyssenKrupp in Germany are implementing hydrogen-based steel production processes, while automakers such as Toyota and Hyundai are investing heavily in fuel cell electric vehicles, further driving demand for electrolyzers.
Global Electrolyzer Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global electrolyzer market report on the basis of technology, application, and region:
- Technology Outlook (Revenue, USD Million, 2018 - 2030)
- Alkaline Electrolyzer
- Proton Exchange Membrane (PEM)
- Solid Oxide Electrolyzer (SOE)
- Anion Exchange Membrane (AEM)
- Application Outlook (Revenue, USD Million, 2018 - 2030)
- Power Plants
- Energy Storage or Fueling for FCEV's
- Industrial Gases
- Power to Gas
- Steel Plant
- Electronics & Photovoltaics
- Others
- Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Central & South America
- Brazil
- Middle East & Africa
- Saudi Arabia
Product Code: GVR-4-68040-417-4
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Materials & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
- 1.7. List of Abbreviations
Chapter 2. Executive Summary
- 2.1. Market Outlook, 2023 (USD Million)
- 2.2. Segmental Outlook
- 2.3. Competitive Landscape Snapshot
Chapter 3. Electrolyzer Market Variables, Trends, and Scope
- 3.1. Market Lineage Outlook
- 3.2. Penetration and Growth Prospect Mapping
- 3.3. Industry Value Chain Analysis
- 3.4. Price Trend Analysis, 2018 to 2030 (USD/Unit)
- 3.4.1. Key Factors Influencing Pricing
- 3.5. Regulatory Framework
- 3.5.1. Standard & Compliance
- 3.5.2. Safety
- 3.6. Market Dynamics
- 3.6.1. Market Driver Analysis
- 3.6.2. Market Restraint Analysis
- 3.6.3. Market Challenges Analysis
- 3.6.4. Market Opportunity Analysis
- 3.7. Business Environment Analysis
- 3.7.1. Industry Analysis - Porter's Five Forces Analysis
- 3.7.2. PESTEL Analysis
Chapter 4. Electrolyzer Market: Technology Estimates & Trend Analysis
- 4.1. Definition & Scope
- 4.2. Technology Movement Analysis & Market Share, 2023 & 2030
- 4.3. Alkaline Electrolyzer
- 4.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.4. Proton Exchange Membrane (PEM)
- 4.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.5. Solid Oxide Electrolyzer (SOE)
- 4.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.6. Anion Exchange Membrane (AEM)
- 4.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 5. Electrolyzer Market: Application Estimates & Trend Analysis
- 5.1. Definition & Scope
- 5.2. Application Movement Analysis & Market Share, 2023 & 2030
- 5.3. Power Plants
- 5.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.4. Energy Storage or Fueling for FCEV's
- 5.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.5. Industrial Gases
- 5.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.6. Power to Gas
- 5.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.7. Steel Plant
- 5.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.8. Electronics & Photovoltaics
- 5.8.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.9. Others
- 5.9.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 6. Electrolyzer Market: Regional Estimates & Trend Analysis
- 6.1. Key Takeaways
- 6.2. Regional Movement Analysis & Market Share, 2023 & 2030
- 6.3. North America
- 6.3.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.3.3. market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.3.4. U.S.
- 6.3.4.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3.4.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.3.4.3. market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.3.5. Canada
- 6.3.5.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3.5.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.3.5.3. market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.3.6. Mexico
- 6.3.6.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3.6.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.3.6.3. market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.4. Europe
- 6.4.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.4.3. market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.4.4. Germany
- 6.4.4.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.4.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.4.4.3. market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.4.5. U.K.
- 6.4.5.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.5.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.4.5.3. market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.4.6. France
- 6.4.6.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.6.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.4.6.3. market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.4.7. Italy
- 6.4.7.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.7.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.4.7.3. market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.4.8. Spain
- 6.4.8.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.8.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.4.8.3. market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.5. Asia Pacific
- 6.5.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.5.3. market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.5.4. China
- 6.5.4.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.4.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.5.4.3. market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.5.5. India
- 6.5.5.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.5.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.5.5.3. market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.5.6. Japan
- 6.5.6.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.6.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.5.6.3. market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.5.7. South Korea
- 6.5.7.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.7.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.5.7.3. market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.5.8. Australia
- 6.5.8.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.8.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.5.8.3. market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.6. Central & South America
- 6.6.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.6.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.6.3. market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.6.4. Brazil
- 6.6.4.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.6.4.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.6.4.3. market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.7. Middle East & Africa
- 6.7.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.7.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.7.3. market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.7.4. Saudi Arabia
- 6.7.4.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.7.4.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.7.4.3. market estimates and forecasts, by application, 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Key Players & Recent Developments & Their Impact on the Industry
- 7.2. Key Company/Competition Categorization
- 7.3. List of key Components Suppliers and Channel Partners
- 7.4. Company Market Share & Position Analysis, 2023
- 7.5. Company Heat Map Analysis
- 7.6. Competitive Dashboard Analysis
- 7.7. Strategy Mapping
- 7.7.1. Collaboration/ Partnerships/ Agreements
- 7.7.2. New Product launches
- 7.7.3. Mergers & Acquisitions
- 7.7.4. Research & Development
- 7.7.5. Others
- 7.8. Company Listing/Profiles
- 7.8.1. Siemens AG
- 7.8.1.1. Company Overview
- 7.8.1.2. Financial Performance
- 7.8.1.3. Product Benchmarking
- 7.8.2. Cummins Inc.
- 7.8.3. ITM Power plc
- 7.8.4. Nel ASA
- 7.8.5. Plug Power Inc.
- 7.8.6. John Cockerill Group
- 7.8.7. Enapter AG
- 7.8.8. Haldor Topsoe A/S
- 7.8.9. Bloom Energy Corporation
- 7.8.10. thyssenkrupp AG
- 7.8.11. Sunfire GmbH
- 7.8.12. Electric Hydrogen Co.
- 7.8.13. Ecolectro Inc.
- 7.8.14. Ohmium International
- 7.8.15. ACME Group
- 7.8.1. Siemens AG
Product Code: GVR-4-68040-417-4
List of Tables
- Table 1 Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 2 Electrolyzer market estimates and forecasts, by Alkaline Electrolyzer, 2018 - 2030 (USD Million)
- Table 3 Electrolyzer market estimates and forecasts, by Proton Exchange Membrane (PEM), 2018 - 2030 (USD Million)
- Table 4 Electrolyzer market estimates and forecasts, by Solid Oxide Electrolyzer (SOE), 2018 - 2030 (USD Million)
- Table 5 Electrolyzer market estimates and forecasts, by Anion Exchange Membrane (AEM), 2018 - 2030 (USD Million)
- Table 6 Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 7 Electrolyzer market estimates and forecasts, in Power Plants, 2018 - 2030 (USD Million)
- Table 8 Electrolyzer market estimates and forecasts, in Energy Storage or Fueling for FCEV's, 2018 - 2030 (USD Million)
- Table 9 Electrolyzer market estimates and forecasts, in Industrial Gases, 2018 - 2030 (USD Million)
- Table 10 Electrolyzer market estimates and forecasts, in Power to Gas, 2018 - 2030 (USD Million)
- Table 11 Electrolyzer market estimates and forecasts, in Steel Plant, 2018 - 2030 (USD Million)
- Table 12 Electrolyzer market estimates and forecasts, in Electronics & Photovoltaics, 2018 - 2030 (USD Million)
- Table 13 Electrolyzer market estimates and forecasts, in Other Applications, 2018 - 2030 (USD Million)
- Table 14 Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 15 North America Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 16 North America Electrolyzer market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 17 North America Electrolyzer market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- Table 18 U.S. Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 19 U.S. Electrolyzer market estimates and forecasts, by technology, 2018 - 2030 (Units) (USD Million)
- Table 20 U.S. Electrolyzer market estimates and forecasts, by application, 2018 - 2030 (Units) (USD Million)
- Table 21 Canada Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 22 Canada Electrolyzer market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 23 Canada Electrolyzer market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- Table 24 Mexico Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 25 Mexico Electrolyzer market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 26 Mexico Electrolyzer market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- Table 27 Europe Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 28 Europe Electrolyzer market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 29 Europe Electrolyzer market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- Table 30 Germany Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 31 Germany Electrolyzer market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 32 Germany Electrolyzer market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- Table 33 UK Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 34 UK Electrolyzer market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 35 UK Electrolyzer market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- Table 36 France Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 37 France Electrolyzer market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 38 France Electrolyzer market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- Table 39 Italy Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 40 Italy Electrolyzer market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 41 Italy Electrolyzer market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- Table 42 Spain Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 43 Spain Electrolyzer market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 44 Spain Electrolyzer market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- Table 45 Asia Pacific Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 46 Asia Pacific Electrolyzer market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 47 Asia Pacific Electrolyzer market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- Table 48 China Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 49 China Electrolyzer market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 50 China Electrolyzer market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- Table 51 Japan Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 52 Japan Electrolyzer market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 53 Japan Electrolyzer market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- Table 54 India Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 55 India Electrolyzer market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 56 India Electrolyzer market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- Table 57 South Korea Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 58 South Korea Electrolyzer market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 59 South Korea Electrolyzer market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- Table 60 Australia Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 61 Australia Electrolyzer market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 62 Australia Electrolyzer market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- Table 63 Central & South America Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 64 Central & South America Electrolyzer market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 65 Central & South America Electrolyzer market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- Table 66 Brazil Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 67 Brazil Electrolyzer market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 68 Brazil Electrolyzer market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- Table 69 Middle East & Africa Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 70 Middle East & Africa Electrolyzer market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 71 Middle East & Africa Electrolyzer market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- Table 72 Saudi Arabia Electrolyzer market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 73 Saudi Arabia Electrolyzer market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 74 Saudi Arabia Electrolyzer market estimates and forecasts, by application, 2018 - 2030 (USD Million)
List of Figures
- 1. Information Procurement
- 2. Primary Research Pattern
- 3. Primary Research Process
- 4. Market Research Approaches - Bottom-Up Approach
- 5. Market Research Approaches - Top-Down Approach
- 6. Market Research Approaches - Combined Approach
- 7. Electrolyzer Market- Market Snapshot
- 8. Electrolyzer Market- Segment Snapshot (1/2)
- 9. Electrolyzer Market- Segment Snapshot (2/2)
- 10. Electrolyzer Market- Competitive Landscape Snapshot
- 11. Electrolyzer Market: Penetration & Growth Prospect Mapping
- 12. Electrolyzer Market: Value Chain Analysis
- 13. Electrolyzer Market: Porter's Five Force Analysis
- 14. Electrolyzer Market: PESTEL Analysis
- 15. Electrolyzer market: Technology Movement Analysis, 2023 & 2030
- 16. Electrolyzer market: Application Movement Analysis, 2023 & 2030
- 17. Electrolyzer market: Regional Movement Analysis, 2023 & 2030
- 18. Electrolyzer Market: Competitive Dashboard Analysis
- 19. Electrolyzer Market: Market Share Analysis
- 20. Electrolyzer Market: Market Positioning Analysis
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